scholarly journals Distinguished Lecture on Economics in Government: Strengthening the Economy by Rethinking the Role of Federal and State Governments

1991 ◽  
Vol 5 (2) ◽  
pp. 3-14 ◽  
Author(s):  
Alice M Rivlin
Keyword(s):  
Federal Government ◽  
Social Insurance ◽  
Public Investment ◽  
Federal Budget ◽  
State Governments ◽  
Public Infrastructure ◽  
National Economic ◽  
American Federalism ◽  
National Economic Policy

This lecture brings together two subjects that are not often discussed together: national economic policy and the structure of American federalism. My thesis is that the policies needed to improve the health of the U.S. economy over the next decade or two require a new look at the division of responsibilities between the federal government and the states. In particular, I will argue that the states should have much clearer responsibility for most kinds of public investment, especially for improving the skills of the labor force and upgrading public infrastructure. The federal government should concentrate on a different set of missions, including interaction with the rest of the world, strengthening social insurance, and contributing to national saving by running a surplus in the unified federal budget.

Does public investment crowd-out private investment in India

2017 ◽  
Vol 9 (1) ◽  
pp. 50-69 ◽  
Author(s):  
Shanmugam Muthu
Keyword(s):  
Public Investment ◽  
Private Investment ◽  
Infrastructure Investment ◽  
Public Infrastructure ◽  
Public And Private ◽  
Content Type ◽  
Macroeconomic Uncertainty ◽  
Long Run ◽  
Short Run

Purpose The purpose of this paper is to examine the crowding-in or crowding-out relationship between public and private investment in India. Design/methodology/approach The autoregressive distributed lag (ARDL) bounds testing approach is used to estimate the long run relationship between public and private investment using annual data from 1971-1972 to 2009-2010. Findings Based on the empirical findings, it is observed that aggregate public investment has a positive effect on private investment both in the long run and the short run. In contrast to the findings of previous studies, no significant impact of public infrastructure investment on private investments is found in the long run, while non-infrastructure investment has a positive impact on private investment in the short run. Among the various categories of infrastructure sector, a positive and significant impact in the case of electricity, gas and water supply is observed. Similarly, the result indicates that public investment in machinery and equipment and construction have substantially influenced the private sector machinery and equipment in the long run and the short run. In the case of the role of macroeconomic uncertainty, the results find a negative and significant impact on private investment and the impact is higher in the short run than in the long run. Originality/value The present study extends the literature in three important ways: First, the study attempts to capture heterogeneity of public investment as well as disaggregate effects of two different categories of public infrastructure on private investment. The extent to which two different types of public assets impact the private investment in machinery and equipment investment is also examined. Second, ARDL model is used to examine the long-run relationship between public and private investment. Third, the study incorporates macroeconomic uncertainty into the empirical analysis to examine the role of macroeconomic volatility in determining private investment decision.

De-offshorization of Economy: International Experience and Russian Specifics

2013 ◽  
pp. 29-48 ◽  
Author(s):  
B. Kheyfets
Keyword(s):  
Economic Development ◽  
System Approach ◽  
Federal Budget ◽  
International Experience ◽  
International Community ◽  
Economic Security ◽  
Russian Economy ◽  
National Economic ◽  
Social And Economic Development

The article shows the excessive role of offshores in Russia, which influence many sides of social and economic development of the country. Undertaken and outlined measures for solving problems of de-offshorization of the Russian economy taking into account new tendencies in anti-offshore policy of the international community in general and certain countries in particular in 2009—2013 are characterized. The necessity of system approach to de-offshorization problem is proved, specific actions in this area which can significantly increase federal budget revenues and strengthen national economic security are also offered.

On the drivers of BNDES credit to Brazilian state governments

2019 ◽  
Vol 11 (2) ◽  
pp. 283-302
Author(s):  
Paulo Rogério Faustino Matos ◽  
Jaime de Jesus Filho
Keyword(s):  
Design Methodology ◽  
State Governments ◽  
Content Type ◽  
The Public ◽  
Brazilian State ◽  
National Economic ◽  
Decision Making Processes ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to address the discussion on the credit disbursement of US$28.6bn from Brazilian National Economic and Social Development Bank (BNDES) to Brazilian state governments during the period from 2009 to 2014. They try to identify the main drivers of the credit allocation in both cross state and time. Design/methodology/approach The authors use a dynamic balanced panel to estimate the role of technical and socioeconomic variables. Findings The results suggest that the states’ need for financing via BNDES exhibits neither inertial nor explosive behavior. The authors find an efficiency elasticity of this resource of 0.20. In addition, the impact of a positive change in the state fiscal status leads to an increase of 2.5 per cent in the indebtedness capacity. Finally, they find that wealthier states are more successful in demanding credit from BNDES. Practical implications This analysis of resource allocation is useful for modeling the determinants of international financial institutions as central planners. The authors also invite researchers to discuss the decision-making processes that characterize the federative pact in Brazil. Originality/value Although a burgeoning body of literature has examined the role of BNDES as a creditor institution for firms, its relationship with the public sector, in special subnational governments, has been rarely studied.

The Rôle of State Governments in the Post-War Era

1942 ◽  
Vol 36 (6) ◽  
pp. 1103-1108
Author(s):  
Willard Ice ◽  
Simon Stickgold
Keyword(s):  
Federal Government ◽  
National Economy ◽  
Active Participation ◽  
State Governments ◽  
Planning Strategy ◽  
War Effort ◽  
Post War ◽  
Time And Energy

The states can do little toward winning the war except to give their whole-hearted coöperation to the President's program for prosecuting the war. This coöperation is, of course, essential and of inestimable value; but the states are not engrossed in planning strategy, directing the war effort, or financing the struggle. By comparison with the federal government, they have immeasurably more time and energy available for engaging in other activities. This time and energy should be devoted to the achievement of something constructive; and the most constructive contribution which the states can make to our national economy is to devote themselves now to the task of preparing for a rôle of active participation in dealing with the serious problems with which we shall probably be confronted after the war. Even if those problems, for one reason or another, do not materialize, it is far better to be prepared for an emergency which never comes than to be unprepared for one which does come.

A Field Network Evaluation of the Reagan Domestic Program

1986 ◽  
Vol 4 (3) ◽  
pp. 309-315
Author(s):  
F C Doolittle
Keyword(s):  
Local Governments ◽  
Field Research ◽  
Fiscal Year ◽  
State Governments ◽  
Federal Aid ◽  
Princeton University ◽  
State And Local ◽  
American Federalism ◽  
Field Network

In fiscal year 1982, Congress accepted President Reagan's proposals to cut federal aid to state and local governments and increase the role of state governments in the administration of federal aid. In field research conducted at Princeton University the extent to which state and local governments replaced lost federal aid with their own revenues or found other ways to continue services previously funded by federal aid was examined. The overall impact of the changes on American federalism was also addressed in the research.

scholarly journals SPACE ASYMMETRIES OF REGIONAL ECONOMIC INTEGRATION

2017 ◽  
pp. 266-275
Author(s):  
Iryna Ivashchuk ◽  
Andriy Voytseshchuk ◽  
Vitaliy Zapukhlyak
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
Trade Agreements ◽  
Regional Economic Integration ◽  
The European Union ◽  
Regional Economic ◽  
Global Space ◽  
National Economic ◽  
National Economic Policy

The objective preconditions of regionalization in the global space are considered in the article. The consequences and challenges of regional economic integration processes for the countries are revealed. The importance of coordinating the objectives of regional economic integration and national economic policy is substantiated. The role of integration in the liberalization of trade through the reduction of tariff barriers is argued. The regional asymmetries of global economic development are outlined. The state of development of regional trade agreements in the last decades is analysed. This analysis has made it possible to determine the difficulties of functioning of integration associations in modern conditions and to substantiate that each region has its own peculiarities, as shown by the example of the European Union, the member countries of NAFTA, integration in the countries of Latin America . The index of regional integration in Africa has been estimated. It allowed revealing significant differences among the groups of countries. The peculiarities of the Trans-Pacific Partnership and the conditions of cooperation of the countries have been clarified.

Estimating the Efficiency of Public Infrastructure Investment: A State-wise Analysis

2018 ◽  
Vol 19 (4) ◽  
pp. 1037-1049 ◽  
Author(s):  
Manvi Saxena ◽  
Varun Chotia ◽  
N.V. Muralidhar Rao
Keyword(s):  
Public Investment ◽  
Principal Component ◽  
Infrastructure Investment ◽  
State Governments ◽  
Public Infrastructure ◽  
State Budget ◽  
The Public ◽  
Analysis Technique ◽  
Indian State ◽  
Using Data

The objective of this study is to empirically analyse the relationship between public infrastructure investment and economic growth for India using yearly data for its 28 states (excluding Telangana). We have taken six major sub-sectors falling under infrastructure sector: transport; education, sports, arts and culture; energy; medical and public health; telecommunication; and water supply and sanitation. We have aimed to analyse the efficiency of each of these sub-sectors using data envelopment analysis (DEA). For every state, we have used the public investment data from the state budget files as input while sector-specific infrastructural criterions and sector-wise revenue are taken as outputs. We have gone by the logic that a state’s particular sub-sector of infrastructure will be highly efficient if it is able to use up the investment allotted to it and create a stronger infrastructure as compared to other states, subsequently generating higher amount of revenues. For each sector, various infrastructural criteria were clubbed together using principal component analysis technique to construct a single infrastructure index (representing the sector-wise output). Further, DEA was applied to calculate efficiency for each Indian state and they were ranked based on their efficiency scores. The analysis tells us that policy-making and budget allocation may be done in accordance with standing performances of different states in various sectors and the goals of the respective state governments.

scholarly journals La Constitution canadienne et la réglementation des relations économiques internationales au sortir du « Tokyo Round »

2005 ◽  
Vol 20 (4) ◽  
pp. 673-694
Author(s):  
Ivan Bernier
Keyword(s):  
Federal Government ◽  
International Level ◽  
Tokyo Round ◽  
Economic Relations ◽  
Multilateral Trade ◽  
Trade Regulation ◽  
International Economic Relations ◽  
National Economic ◽  
Economic Considerations ◽  
National Economic Policy

Following the conclusion of the recent multilateral trade negotiations under the auspices of G.A.T.T. (Tokyo Round), a number of agreements have been concluded in the field of non-tariff measures that may well give, in the future, a new impetus to the exercise of the federal power over "trade and commerce". Indeed, there appears to be a growing tendency, both at the international level and in our constitutional law, to recognize that international economic relations start and end with internal economic considerations. The importance of this development has not escaped the attention of the provinces which, in recent years, have attempted in various ways to promote their interest at the international level, while claiming, at the same time, a greater input in the formulation of the national economic policy. The object of this paper is to take a global look at this development. In conclusion, it suggests that both the federal government and the provinces should accept that international trade regulation, as a subject of national concern, is inseparable from the regulation of the internal economy, and as such should be considered as a question of mutual interest.

Epilogue

2021 ◽  
pp. 367-374
Author(s):  
Jeffrey S. Sutton
Keyword(s):  
Local Level ◽  
National Level ◽  
Federal Courts ◽  
State Governments ◽  
Role Of The State ◽  
Democratic State ◽  
Form Of Government ◽  
American Federalism ◽  
Lasting Change

When it comes to the who-decides questions at the local level, the states have been versatile over time, developing more and more democratic answers. At the national level, the country remains largely fixed in an eighteenth-century republican form of government, one that remains non-democratic in many ways. Are there ways in which these two different approaches to government can complement each other? The conviction of this book is that American constitutional structure cannot be understood without appreciating how the national and state governments handle it. The hope is that a greater appreciation of American federalism offers ways to improve the functioning of each side. The epilogue addresses the gap between the increasingly democratic state governments and non-democratic federal government, the role of the state and federal courts in addressing change, and the structural values of federalism and localism in creating stable and lasting change.

Role of The Halal Industry in Recovering the National Economy in Covid-19 Pandemic

2020 ◽  
Vol 8 (2) ◽  
pp. 202-214
Author(s):  
Cucu Susilawati
Keyword(s):  
National Economy ◽  
Banking Sector ◽  
Developed Countries ◽  
Online News ◽  
Financial Industry ◽  
National Economic ◽  
Halal Food ◽  
Vigorous Growth ◽  
Business Sectors

The outbreak of the Covid-19 pandemic in Indonesia is attacking not only public health but also the economy. The presence of Covid-19 has many important impacts on developed countries. There are at least four industries most impacted by this pandemic, including households, MSMEs, companies and the financial industry. However, the halal industry is believed to be more resilient to the Covid-19 pandemic. This durability is because of the principles attributed to the halal sector, namely the importance of fairness, balance and openness. The author’s goal is therefore to carry out more in-depth research on the role of the halal industry in supporting the national economy, which is under pressure because of the COVID-19 pandemic. This type of study is a literature review with a material analysis approach that explores the conditions of the halal industry in Indonesia in depth. The material received is as books, published information, and online news. The findings of this study reveal that there are three halal business sectors that are believed to be more vulnerable to the Covid-19 pandemic in order to facilitate national economic recovery. Halal finance, halal food and halal fashion industries are among them. Halal finance from both the banking sector and the Islamic stock market has proved to be more robust than the mainstream financial sector. Besides guaranteed halal food, its wellbeing is also guaranteed, and halal fashion is now on the rise as Muslim fashion is increasingly innovative and global. We believe the three of them to have experienced vigorous growth, and also to continue to draw customers. And also after the Covid-19 pandemic, these three sectors could survive. Thus the halal industry also contributes to Indonesian economy.

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